Bequests and the Intergenerational Degree of Altruism
AbstractWe consider an OLG model with production and altruistic agents initially developed by Barro (1974). Through a simple example, we show that, contrary to the intuition of Abel (1987) and Weil (1987), an increase in the degree of altruism can result in a decrease in the stationary level of bequests even if the Diamond model has a unique and stable steady state. To rule out this counterintuitive case, an assumption on the curvature of the production function is necessary.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 2001022.
Date of creation: 01 Jun 2001
Date of revision:
OLG models; Bequest motive; Degree of altruism;
Other versions of this item:
- Thibault, E., 1999. "Bequests and the Intergenerational Degree of Altruism," G.R.E.Q.A.M. 99a43, Universite Aix-Marseille III.
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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- Emmanuel Thibault, 2008. "Dynamic efficiency and intergenerational altruism," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(3), pages 679-687, July.
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